PRESIDENT’S REPORT ANNUAL HOMEOWNERS’ MEETING · Anne Del Villano (Vice President) term expires John Fitzgerald (President) PRESIDENT’S REPORT. PRESIDENT’S REPORT Your Architectural

PRESIDENT’S REPORT

ANNUAL HOMEOWNERS’ MEETING

JULY 25, 2015

Your Board of Directors

Peter Raich (Member)

Alan Cohen (Secretary) retiring

John Hedderich (Treasurer) term expires

Anne Del Villano (Vice President) term expires

John Fitzgerald (President)



Your Architectural Control Committee

Bert Del Villano (Chair)

Mark Novak

Mary Beth Diblasi

Chris Metzger

Linda Boyd

Architectural Report

Bert Del Villano

Repaint/Restain Policy:

Homeowner to paint a patch (2 ft X 2 ft) with new paint

(even if we think it is the same) for ACC approval.

Any Outside Changes: Remodel or Repair; Trees; Landscape;

Please Contact the ACC

Road Use Fee May Apply

Fire Mitigation

Clear Perimeter Zone


Bert Del VillanoReal Estate Closings -- July 2014-2015

Welcome new neighbors

Buyer Address ClosingMargie Sinton (Summit Fun Club) 198 High Meadow Dr. 9/3/2015

Charles Rehg 34 Torrey Ln. 6/30/2015

Curtis/Katherine Coolidge 84 Guyot Ln. 4/23/2015

Michael Pfotenhauer/C. Stecker 127 Torey Ln. #B5 3/13/2015

Patrick/Kimberly Mullin 343 High Meadow Dr. 2/19/2015

Susan Williams 44 High Meadow Dr. 2/18/2015

Bittle/Charlotte Porterfield 457 Summerwood Dr. #A 12/29/2014

Brian/Chiann-Yi Yawitz 196 High Meadow Dr. 11/14/2014

Kim/Ed Voyles 127 Torrey Ln. #B6 10/3/2014


Bert Del Villano

Summerwood ACCMajor Approvals 2014-2015All exterior changes to be ACC approved

Name Address Project

Cohen* 507 Summerwood Dr. Stucco/paint

Hawkins 9 Pinnacle Ln. Addition

Able 62 Guyot Ln. Roof/Ramp

Knight* 261 High Meadow Dr. Construction

Katzman 198 High Meadow Dr. Easement


On Site Managers

Manager:

Eric Nicholds

Assistant Managers:

Susan Nicholds & her helper, Gary


Strategic Plan

Mission:

“Community of Choice”

“Sustainable Future… enhance the value of the community”

Vision:

“lead… in sound fiscal management, a strong trusting

relationship with homeowners, and as an environmentally

conscious, responsible, aware and participating citizen of our

mountain community”

Core Values:

Transparency, Integrity, Mutual Respect, Fiscal

Responsibility, Helpfulness


Strategic Plan

Objectives:

Maintain financial soundness

Assure succession and capability of HOA governance

Facilitate and encourage upgrading/replacing homes

Monitor and engage in the neighboring community

Develop proactive plans to address change

Ensure appropriate communication with homeowners


Annual Activities:

>Fill Road Cracks

>Vegetation Management

>Forest Management:

~Standing Dead & Beetle Trees Removed

~Pheromone Packs Installed

~Selective Thinning & Pruning

~Tree Replanting Program


Completed “Projects” (almost):

Racquetball Court Water Intrusion

Sump Installed in Closet

Sump Installed in Outside Well

Plan to reinstall Flooring “ASAP”


Homeowner’s

Survey Summary

0

1

2

3

4

5

6

7

8

Home Ck Snow Plow Clubhouse Grnds/Rds Board Comms BOD Rspns Dues/Value Fiscal Mgmt

S-D

D

N

A

S-A


Homeowner’s

Survey Comments

Question 1: Why Summerwood?Open Space; Close to town/skiing; pool; hot tub; b-ball; trails

Question 13:Clubhouse Amenities:

Mainly for swimming with the grandkidsNeeds UpdateRacquetball/B-Ball Court Reopened

Exercise Equipment:Free Weights;Better Elliptical MachineBetter BikeFree motion machine

Question 14: How to Improve?Dues as low as possibleLonger Access to the ClubhouseKeep dogs on Leashes“Strong Tree Policy”Cut Grass more oftenClubhouse lighting improved


Our View of the Future

Current / Future “Projects”

Address Signs

Possible Mail Room / Entrance Changes

Capital Improvement Plan (with input from survey/realtors)

Fire Mitigation

Xeriscape where appropriate

Gilan Engineering Study (& our actual experience) continues

as the basis for reserve planning

Unknowns

Thirty Year + Old Community

Annual

Homeowner

Education

Homeowner

Education

Wildfire Mitigation

Summerwood Wildfire Hazard Rating: Moderate

Defensible Space: Fuels Reduction Area (Cut Tall Grass)

Common Property within your defensible space needing work:

Please inform HOA.

Homeowner

EducationWildfire

http://www.co.summit.co.us/wildfiremitigation/

•Wildfire Notification System: ( SCAlert.org )

•Evacuation Plan

•Evacuation Kit

•Evacuation Notice: Only government officials have

the information & authority to order evacuation. The HOA

cannot accept this responsibility.

http://www.co.summit.co.us/wildfiremitigation/

http://scalert.org/

Selected Rules: All pets must be kept on a leash when off its Owner's

Site

No pets in Common Facilities

Sports Complex Under 14 …supervised by an adult

No Glass in pool/spa area (Video recording installed)

When Renting Your Home Owner is responsible for renters

No Pets

OHV restricted from our roads

Tenant info to HOA if > 30 days

Homeowner

Education


Safety Reminders

Walk our Roads Defensively

Respect non-motorized users when driving our roads (Speed Limit 20 mph)

Entrance Bike Crossing Caution:

Bikes have a stop sign, but often don’t look for cross traffic

Cars have right of way, but…

County is aware of our concerns and did change “yield” to “stop”

HOMEOWNER

EDUCATIONWebsite

http://www.summerwoodassociation.com

Owners Login Section:

Password: Summerwood

Welcome Page: President’s Corner

Meetings & Minutes: BOD Schedule/Agenda/ Minutes

BOD Members:

ACC Members:

Financials:

Insurance: Summary

Vendors: Disclaimer

http://www.summerwoodassociation.com/

HOMEOWNER

EDUCATIONWebsitePublic Section

>Documents

•CCIOA

•Declaration of Covenants & Articles of Incorporation

•Rules & Bylaws

•Operating Manual

>Facilities

>Photo Tour

>Financial Philosophy

>Etc.

HOMEOWNER

EDUCATION

Board Meetings:

>Once a Quarter (approximately)

>Schedule on website & in latest President’s Corner

>Agenda on website about a week before the meeting

>You are welcome to attend & speak (Skype on request)

>Draft Minutes usually on website in two to three weeks

MANAGEMENT COMPANY REPORT

Gary; Susan; & Eric Nicholds

Basic Property Management

FINANCIAL REPORT

John Hedderich

Treasurer

Summerwood Budget Worksheet for Year 2016 Dues increased from $270 to $275 = 1.9% increase DRAFT 01

Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget

2012 2013 2014 Jun2014 2014 2015 2016

May 2015 Approved Approved Proposed Comments

Operating Income /Owner/month

Dues: Operating _97 owners 167,162 176,637 177,114 176,440 177,118 175,498 182,960 $157.18

Mgmt Fee - Ridge 4-Plex 4 2,808 2,866 2,928 2,953 2,928 2,987 3,047 + 2.0%

Mgmt Fee - Summer Ridge 6 4,212 4,299 4,380 4,417 4,380 4,468 4,557 + 2.0%

MgmtFee - Torrey Ridge 8 5,616 5,733 5,844 5,894 5,844 5,961 6,080 + 2.0%

Sale of Vehicle - - 15,000 - - - -

Trash Reimbursement $20/month 3,505 3,520 3,100 2,860 3,600 3,120 2,640 11 owners

Misc Income _ Interest 27 120 167 131 - - -

Total Operating Income 183,330 193,175 208,533 192,695 193,870 192,034 199,284

Operating Expense

Bad Debt - 953 - - - - -

Administration

Annual Meeting Expense 530 2,411 2,712 2,712 1,500 2,500 2,500

Bank Service Charges - - - - - -

Cable TV 1,612 1,821 1,909 1,905 1,600 2,000 2,000

Clubhouse Holiday Decorations 381 22 32 32 300 150 100

Contributions - - - - - - -

Directors Meeting Expense 201 - 22 - - - -

Filing Fees 10 227 26 28 10 10 20

Insurance 6,014 6,979 6,663 6,463 6,000 8,400 6,500

Office Supplies 456 121 290 38 300 250 200

Other Admin 1,824 3,720 3,424 3,566 2,250 3,500 3,500

Postage and Delivery 252 262 163 125 300 300 300

Printing and Reproduction 258 241 193 330 250 250 300

Secretarial Service 1,042 827 954 988 1,100 1,200 1,000

Security System 334 375 273 273 350 375 300

Taxes & Licenses - - - - - - -

Telephone 3,266 3,192 3,158 3,016 3,100 3,200 3,200

Unit Inspections - - - - - - -

Web Page Admin 420 420 420 420 400 420 420

Total Administration 16,600 20,620 20,238 19,895 17,460 22,555 20,340

Management Fee 107,457 111,226 113,451 114,400 113,460 115,729 118,044 + 2.0%


2012 2013 2014 Jun2014 2014 2015 2016


Professional Fees

Legal Other Than Architectural 338 174 2,475 5,328 200 200 2,500

Total Professional Fees 338 174 2,475 5,328 200 200 2,500

Repairs & Maintenance

Building Maintenance 756 3,223 2,866 2,015 2,500 2,500 2,500

Clubhouse - Other 4,976 4,383 4,298 4,664 5,000 4,000 4,500

Clubhouse - Pool & Spa 2,958 1,970 7,899 8,591 3,000 2,200 6,000

Grounds Maintenance 6,115 5,018 2,504 2,678 6,000 5,500 3,000

Managers Unit 80 202 124 124 500 300 300

Ordinary Road Maintenance - - - - - - -

Other Maintenance 22 - - - 400 - -

Signage Program - - - - 250 150 -

Snow Removal (2,476) - 75 - 500 100 -

Trash Removal 11,037 11,770 11,135 11,270 11,500 11,500 11,500

Tree Replacement - - 3,000 3,000 3,000 1,000 3,000

Total Repairs & Maintenance 23,467 26,566 31,902 32,342 32,650 27,250 30,800

Utilities

Electric 9,329 10,174 9,152 8,354 11,500 9,000 8,500

Gas 3,452 4,187 4,696 4,907 4,500 4,000 5,000

Water & Sewer 4,757 3,728 5,047 5,232 4,500 3,700 5,000

Total Utilities 17,538 18,089 18,894 18,493 20,500 16,700 18,500

Vehicle Expense

Gas, Oil, Washing 2,717 2,678 4,140 2,253 3,000 3,000 3,000

Insurance, Licenses, Registr 2,052 3,740 2,789 2,751 3,000 3,000 3,000

Repairs & Maint-Trucks 1,531 4,100 4,013 1,695 2,500 3,000 2,500

Repairs&Maint-Skid Steer 35 94 - - 1,000 500 500

Vehicle Expense - Other - 155 159 - 100 100 100

Total Vehicle Expense 6,335 10,767 11,102 6,699 9,600 9,600 9,100

Total Operating Expense 171,734 188,394 198,061 197,158 193,870 192,034 199,284

Operating Net Income/(Loss) 11,596 4,781 10,472 (4,463) - - -


2012 2013 2014 Jun2014 2014 2015 2016


Other Income & Expense

Other Income

ACC Consulting Fees - - - - - - -

ACC Plan Review Fees - - - - - - -

Collection Fees - - - - - - -

Late Fees 892 78 28 (4) - - -

Fines - 100 500 - - - -

Mail Box Charges - - - - - - - /Owner/month

Dues: Reserve Fund 123,838 114,363 131,346 134,445 131,342 138,782 137,140 $117.82

Interest - Money Market 1,109 824 825 824 1,100 - 800

Road Use Fee 15,820 - 4,715 4,715 - - -

Total Other Income 141,659 115,365 137,414 139,979 132,442 138,782 137,940

Other/Reserve Expense

Reserve

R Clubhouse - exterior paint - - - - - - -

R Clubhouse - redecorate 1,954 - - 6,249 - - -

R Ditches and culverts cleaning 8,953 - - -

R Dumpster - move and/or replace - - - - - - -

R House signs - stain - - - - - - -

R Managers Unit - improvements - 987 - - -

R Pool & Spa - heat exchanger - - - - - - -

R Pool & Spa - Major overhaul 47,964 - - -

R Racquetball Court - refinish - - - - - - -

R Roads - sealcoat - 37,843 - - -

R Roads, crackseal (yearly) 6,986 - 6,510 7,800 - - -

R Snow Plow - replace - - - - - - -

R Tennis Court repair - - - - - - -

Subtotal Reserve 65,857 38,830 6,510 14,049 - - -


2012 2013 2014 Jun2014 2014 2015 2016


Other

ACC Consulting Expense - - - - - -

ACC Plan Review Expense - - - - - -

Bad Debt - - - - - -

Clubhouse - gutters & heat tape - - - - - -

Clubhouse - install gas heat 16,450 - - -

Clubhouse - Security System - 10,162 3,477 - - -

Clubhouse - Boiler System - 33,696 11,363 - - - -

Drainage improvements - ClbHs 9,214 1,010 11,060 - - - -

Energy Improvements 2,397 - - - - - -

Fire Mitigation 14,792 21,540 - - 15,000 20,000 20,000

Plant and tree removal, pruning - - 12,229 - - - -

Pool/Hottub repair - - - -

Racquetball repairs - - 1,800 - - -

Small Unplanned projects 3,500 - - -

Solar Project - - - -

Water Meter/Backflow - - 1,186 - - - -

Subtotal Other 42,853 66,408 41,138 3,477 15,000 20,000 20,000

Total Other/Reserve Expense 108,709 105,238 47,648 17,526 15,000 20,000 20,000

Other/Reserve Net Income/(Loss) 32,950 10,127 89,766 122,452 117,442 118,782 117,940

Total Revenue 324,989 308,540 345,947 332,674 326,312 330,816 337,224

Total Expense w/o Depreciation 280,443 293,632 245,709 214,684 208,870 212,034 219,284

Total Net Income (Loss) w/o Depr 44,546 14,908 100,237 117,989 117,442 118,782 117,940

Cash Assets less liabilities- Year End 626,594 597,562 694,392 739,765

Dues/month/owner 250 250 265 265 265 270 275

Net Annual Dues Increase - - 17,460 - - 5,820 5,820


Election of Managers

(Board of Directors)


Unfinished Business?

New Business?


Until Next Year…

Thanks for Listening!


End


Dues Comparison

Summerwood 2016

Operations: $ 157.18

Reserves: $ 117.82

(Roads; Pool; Clubhouse;

Road & Driveway Plow;

Home Inspections)

Total: $ 275.00

Keystone Ranch 2015

Operations: $161.00

Reserves: $114.00

(Roads; Pool Share; Road Plow)

Subtotal $275.00

Water: $ 40.00

Total: $315.00